East Los Angeles-based Pan American Bank announced Monday that it is now an approved SBA – Small Business Administration – lender.
“As the only Bank headquartered in predominantly Spanish-speaking East Los Angeles we have found that there is a tremendous need for an SBA lender that understands the nuances of the Latino market,” said Pan American Bank CEO Jesse Torres in a written announcement.
Torres said the bank’s veteran SBA lending team looks to serve the predominantly Spanish-speaking small business community of East Los Angeles and the greater Los Angeles and Orange counties.
He said Pan American Bank’s nearly 50 years in the community has given them insight into the challenges local small businesses have faced trying to work with SBA approved lenders.
“Our SBA lending team is not only experienced and highly regarded by the SBA, but it is also fully bilingual and accustomed to working with Latino small business owners. Additionally, we provide much of the necessary technical assistance that is essential to ensuring long-term success,” he said.
It is our expectation that the arrival of SBA lending at Pan American Bank will contribute to creating new jobs, building wealth for Latino small business owners, and will contribute towards elevating our Latino communities into the middle class.”
For more information about the SBA Loan Program or any Pan American Bank services, contact Jose Juan Vega or Raquel Castro at (323) 264-3310, or visit www.panamericanbank.us  .